JOHANNESBURG—Beachhead Media & Investor Relations, a South African media and investor relations consultancy, has completed a deal with Financial Dynamics International, under which FDI will take a 74 percent stake in Beachhead, with the other 26 percent remaining in possession of Beachhead’s BEE (Black Economic Empowerment) Staff Trust.
The transaction, subject to the requisite regulatory approval, will give Beachhead access to FDI’s international network in Europe, North America and Asia and its expertise and experience in the international capital markets, particularly London, New York, Paris, Frankfurt and Hong Kong. In 2005 FDI advised on 321 capital market transactions to the value of $287bn.
At the same time, FDI will now be able to offer its clients access to the South African market and will invest in Beachhead over the medium term to expand the business in South Africa and to establish a greater presence throughout the African continent. As part of that process, Nic Bennett, managing director of FD in London, has re-located to Beachhead’s offices.
Says Bruce Hetherington, CEO of Beachhead said, “We believe we are the only home grown specialist financial communications consultancy focused on board-room level requirements that is BEE compliant and now offers a full international capability. FDI has enormous experience across a range of services which we first tapped on behalf of South African clients over five years ago. The decision to move Beachhead formally into the FDI network is an exciting development for all of us, our staff and our clients.”